International Review of Economics & Finance最新文献_第6页

Mitigating corporate maturity mismatch: The role of green bond issuance in China

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-03-16 DOI: 10.1016/j.iref.2025.104067

Jing Zhang, Yinglin Cui, Yingdan Jin

引用次数: 0

The impact of ESG factors on credit ratings: An empirical study of European banks

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-03-15 DOI: 10.1016/j.iref.2025.104056

Sheng-Li Chen , Dan-ni Wang , Hao-Wei Chen

引用次数: 0

Environmental attention in cryptocurrency markets: A catalyst for clean energy investments

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-03-15 DOI: 10.1016/j.iref.2025.104063

Lingli Qing , Ibrahim Alnafrah , Abd Alwahed Dagestani

{"title":"Environmental attention in cryptocurrency markets: A catalyst for clean energy investments","authors":"Lingli Qing , Ibrahim Alnafrah , Abd Alwahed Dagestani","doi":"10.1016/j.iref.2025.104063","DOIUrl":"10.1016/j.iref.2025.104063","url":null,"abstract":"<div><div>The energy-intensive nature of cryptocurrency mining, largely reliant on fossil fuels in its early development, has raised growing environmental concern. Consequently, the Index of Cryptocurrency Environmental Attention (ICEA) has emerged, gauging public attention towards this issue. This study investigates the complex interplay between ICEA, cryptocurrency price and policy volatilities, green energy investments, and dirty energy prices. Utilizing a dataset spanning from January 2015 to June 2023, we employ a multifaceted approach encompassing cross-quantilogram, time-varying parameter vector autoregression (TVP-VAR), and wavelet coherence techniques to uncover the dynamic interconnectedness of these three markets. Our findings challenge a simplistic narrative that anticipates a direct link between ICEA and immediate reductions in electricity consumption within the cryptocurrency mining sector. Instead, we discern a nuanced picture wherein ICEA drives significant structural transformations, influencing investments in clean energy markets. Our analysis suggests that ICEA stimulates green energy investments, encouraging miners to explore alternative energy sources with lower environmental impacts. This transition paves the way for more sustainable investments, with green energy sources like renewables playing an increasingly prominent role in powering the cryptocurrency industry.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"99 ","pages":"Article 104063"},"PeriodicalIF":4.8,"publicationDate":"2025-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143643043","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Digital literacy, labor migration and employment, and rural household income disparities

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-03-15 DOI: 10.1016/j.iref.2025.104040

Shumin Wang , Caiping Qu , Lingyan Yin

{"title":"Digital literacy, labor migration and employment, and rural household income disparities","authors":"Shumin Wang , Caiping Qu , Lingyan Yin","doi":"10.1016/j.iref.2025.104040","DOIUrl":"10.1016/j.iref.2025.104040","url":null,"abstract":"<div><div>Mitigating the income disparity among farmers is essential to promoting common prosperity. Based on the data from the 2020 China Rural Revitalization Comprehensive Survey (CRRS), this paper delves into the impact of digital literacy on the income disparity among farmers. The study shows that digital literacy plays a significant role in reducing income disparity among farmers, which aligns with the “normalization theory” of the digital divide. Through a mediation effect model, the mechanism of digital literacy on the labor force's transition to employment is verified. The results reveal that digital literacy, by enhancing farmers' local part-time decision-making and increasing the time and return of working away from home, effectively mitigates income disparity among farmers. Heterogeneity analysis results demonstrate that compared to the central and eastern regions, digital literacy has a more significant mitigating effect on the income disparity among farmers in the western region; simultaneously, digital literacy has a noticeable negative impact on income disparity among farmers in non-poverty counties or villages engaged in e-commerce activities. Further research indicates that digital training positively adjusts the relationship between digital literacy and income disparity among farmers. This study suggests that while guiding the digital economy to create job demands, it is also crucial to pay attention to the high-quality supply of rural labor, to increase the tilt of digital resources towards vulnerable groups, and to actively adopt measures such as digital training to enhance farmers' digital literacy. This will facilitate the transition of rural labor to employment, fully unleashing the digital dividend to alleviate the issue of income disparity among farmers.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"99 ","pages":"Article 104040"},"PeriodicalIF":4.8,"publicationDate":"2025-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143687490","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How does climate change affect regional sustainable development? Empirical evidence from 186 countries around the world 气候变化如何影响地区可持续发展？来自全球 186 个国家的经验证据

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-03-15 DOI: 10.1016/j.iref.2025.104047

Yuqing Cai

{"title":"How does climate change affect regional sustainable development? Empirical evidence from 186 countries around the world","authors":"Yuqing Cai","doi":"10.1016/j.iref.2025.104047","DOIUrl":"10.1016/j.iref.2025.104047","url":null,"abstract":"<div><div>This study, based on data from 186 countries worldwide between 1980 and 2020, explores the profound impact of climate change on regional sustainable development. It focuses on analyzing the mechanisms of factors such as temperature changes, urban development, green vegetation, energy consumption, and environmental regulation, revealing significant differences in climate adaptation capacities between developed and developing countries. The study finds that moderate warming is beneficial for the sustainable development of cold regions, while high temperatures generally have negative effects across all regions, particularly with more far-reaching impacts in developed countries. Proper urban development and green vegetation management can effectively mitigate the adverse effects of high temperatures, whereas excessive energy consumption exacerbates the negative consequences of climate change. Additionally, socio-economic factors profoundly affect the severity of extreme weather impacts. Low-income and income-inequality countries face greater risks, while in the long term, extreme heat increasingly poses challenges for high-income countries. Climate zone differences exacerbate these impacts, with cold-climate countries experiencing the most severe short-term effects from extreme cold and heat, while in the long term, extreme heat has the greatest impact on tropical countries, and extreme cold continues to affect cold-climate countries, with temperate countries facing moderate effects. Based on the research findings, this paper proposes differentiated climate adaptation strategies and offers policy recommendations in areas such as green infrastructure development, energy transition, environmental regulation, and social security systems to promote the achievement of global climate adaptation and sustainable development goals. It also emphasizes climate justice, ensuring fair participation of vulnerable countries and groups in global climate adaptation and mitigation efforts.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"99 ","pages":"Article 104047"},"PeriodicalIF":4.8,"publicationDate":"2025-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143687014","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Global uncertainty, macroprudence and export value: "Quality up" or "quantity up" 全球不确定性、宏观审慎和出口价值："质变 "还是 "量变

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-03-15 DOI: 10.1016/j.iref.2025.104058

Zhiguo Fan , Fenghua Guo , ChenBian

{"title":"Global uncertainty, macroprudence and export value: \"Quality up\" or \"quantity up\"","authors":"Zhiguo Fan , Fenghua Guo , ChenBian","doi":"10.1016/j.iref.2025.104058","DOIUrl":"10.1016/j.iref.2025.104058","url":null,"abstract":"<div><div>This paper examines the impact of global uncertainty on export value. We extend Melitz's (2003) neo-new trade theory model by introducing global uncertainty into the model to explore how it affects the \"quantity\" and \"quality\" of exports value, and then we select a sample of 85 economies for the period 2001–2021. Subsequently, we selected 85 economies as the study sample from 2001 to 2021, and the empirical data also show that: (1) global uncertainty reduces the total export value and increases the export value of high-quality products and services, with a longer duration. Emerging economies are more prominent. (2) the impact of domestic uncertainty has not had a significant impact on the total export value and quality, while the impact of foreign uncertainty is particularly significant.(3) Macroprudential analysis shows that, under the impact of global uncertainty, macroprudential policies have played a countercyclical role, that is, mitigating the negative impact of global uncertainty on the \"quantity\" of exports value, and reducing the positive impact of global uncertainty on the \"quality\" of exports. (4) Domestic pull factors indicate that while the level of financial development and government intervention has successfully contributed to \"increasing\" the value of exports, it has not effectively achieved the goal of \"enhancing\" the quality of export value.The findings of this paper provide new ideas for countries to promote the \"quantity\" and \"quality\" of exports under the external shocks of global uncertainty, and provide micro evidence for countries to promote the implementation of macroprudential policies.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"99 ","pages":"Article 104058"},"PeriodicalIF":4.8,"publicationDate":"2025-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143687008","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

An analysis of the path of labor protection in the innovation of small and medium-sized enterprises - A moderated mediation model

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-03-15 DOI: 10.1016/j.iref.2025.104055

Shengchun Ma, Zixuan Zhang, Yaohui Wang

{"title":"An analysis of the path of labor protection in the innovation of small and medium-sized enterprises - A moderated mediation model","authors":"Shengchun Ma, Zixuan Zhang, Yaohui Wang","doi":"10.1016/j.iref.2025.104055","DOIUrl":"10.1016/j.iref.2025.104055","url":null,"abstract":"<div><div>Small and medium-sized enterprises (SMEs) are important forces in technological innovation. How labor protection affects innovation in SMEs is a question worth paying attention to in current research on SME innovation. On the basis of data from 203 SMEs listed on China's SME board from 2009 to 2022, this study employs a fixed effects model to explore the effects of labor protection on the innovation of heterogeneous SMEs. Empirical and mechanism analyses reveal that strengthening labor protection fosters SME innovation and that labor protection promotes innovation through the mediating role of wage incentives. Wage incentives act as a moderated mediator that reflects the heterogeneity of enterprises. In the short run, labor protection significantly influences innovation in SMEs with elevated domestic trade levels. SMEs that receive robust government support significantly benefit from the enforcement of labor protections. This study contributes to the research on the impact of labor protection on enterprise innovation and provides valuable insights for SME innovation management and adjustments in labor protection policies by relevant government departments.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"99 ","pages":"Article 104055"},"PeriodicalIF":4.8,"publicationDate":"2025-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143687010","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How does digital finance affect imports, exports and trade balance: Evidence from China

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-03-15 DOI: 10.1016/j.iref.2025.104054

Hongya Li , Xiaobin Lin , Zhaoyong Zhang

引用次数: 0

The co-evolution between organizational learning and business model design in incumbent firms: The role of firm life cycle

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-03-15 DOI: 10.1016/j.iref.2025.104048

Zicheng Ma, Limei Ye, Jinzhu Liu

{"title":"The co-evolution between organizational learning and business model design in incumbent firms: The role of firm life cycle","authors":"Zicheng Ma, Limei Ye, Jinzhu Liu","doi":"10.1016/j.iref.2025.104048","DOIUrl":"10.1016/j.iref.2025.104048","url":null,"abstract":"<div><div>Prior research indicates the sequential dynamic learning process when firms learn about a market to develop effective business model, leaving the impact of different types of learning on effective business model design unexplored. Utilizing the lens of organizational learning theory and evolutionary adjustment approach, we explore the common and differential effects of two types of learning strategies (i.e., exploration and exploitation) on novelty-centered business model design (NBMD) and efficiency-centered business model design (EBMD). We also examine whether and how these relationships vary at distinct stages of development. Based on 303 Chinese incumbent firms, results demonstrate that both exploratory and exploitative learning are positively associated with NBMD and EBMD. Compared with exploitative learning, exploratory learning has a stronger positive impact on NBMD, but exerts no distinctly positive impact on EBMD. Additionally, stage of development is identified as a boundary condition of the relationship between exploitative learning on NBMD. These findings highlight the co-evolution between learning and business model design.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"99 ","pages":"Article 104048"},"PeriodicalIF":4.8,"publicationDate":"2025-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143643044","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Taxation on cross-border capital flows, foreign exchange reserves rescue and risk prevention

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-03-15 DOI: 10.1016/j.iref.2025.104060

Qiuju Yang , Bo Yu , Quan Yang , Chao Guan

{"title":"Taxation on cross-border capital flows, foreign exchange reserves rescue and risk prevention","authors":"Qiuju Yang , Bo Yu , Quan Yang , Chao Guan","doi":"10.1016/j.iref.2025.104060","DOIUrl":"10.1016/j.iref.2025.104060","url":null,"abstract":"<div><div>Addressing cross-border capital flow risks and implementing crisis relief measures has become an urgent necessity in open and reformed international financial markets. This study presents a comprehensive exploration and validation of the role of cross-border capital flow taxes and foreign exchange reserves rescue in risk prevention. First, a two-period model has been developed to assess the expected net output of international capital under various scenarios, facilitating comparative analysis of the mitigation effects of cross-border capital flow taxes and foreign exchange reserves rescue on external risk shocks. The findings suggest that, in terms of risk prevention, a higher expected output from outflow taxes leads to a stronger response to risk shocks. However, the use of foreign exchange reserves requires balancing retention costs against rescue benefits. Overall, the effectiveness of foreign exchange reserves is weaker than that of outflow taxes, and the optimal approach is to use both measures simultaneously. Second, empirical evidence derived from a panel data model encompassing 90 countries worldwide confirms that the implementation of cross-border capital flow taxes and foreign exchange reserves rescue significantly contributes to alleviating economic and financial risks, with a particularly strong effect on financial risks. Moreover, the combined use of both measures proves to be more effective.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"99 ","pages":"Article 104060"},"PeriodicalIF":4.8,"publicationDate":"2025-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143687013","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0